The red arrow indicates the peak of course, but also the moment we hit the top of the steep channel we were in.

We're now at the bottom of the least steep trendchannel, correct? Let's hope for a strong rebound

I can't get the chart site working, bad gateway, timeouts etc, so hard to know what the price is just now, Clark Moody site says it dipped down to $55, but now is around $70?

If thats the case looks like we fell below the bottom of the least steep trend line. Which isn't good from the bullish perspective. But factoring in that MtGox has totally screwed up by closing 'to let the market cool down' and the height from which we fell might allow a little overshoot. If we can get back into the first exponential channel I'd be thinking the bull run might yet be intact.

I've been saying forever that the price was unsustainable, but the true believers around here shouted me down constantly. Now I think we are going to slide all the way down to singles before we see a real recovery.

Definitely not the end of btc (speculators and true believers will make sure of that) but Im pretty sure this run is done for a while.

$83 or so was on March 23rd an inflection point where we kicked into a higher rate of exponential growth.

This is where things got unsustainable and people started screaming "Bubble!" or if they were doing so already, shouting it even louder.

If we see the price dip and gravitate loosely around this point in the next few days we would be on a previous upward trend which stretched from Jan 9th to March 23rd and to some degree, beyond.

Bear in mind we are seeing a decent-sized bid wall at $76 and that the ask wall isn't so much a wall as a gentle ramp.

Pick your entry point, gird your loins and ride this up.

That's exactly what I was thinking the whole time. I just missed my exit point, because I predicted it at 400-600. Now, all I can do is hold .

Great minds think alike

I think we will simply return to exponential growth along the original channel OP described here earlier (the black channel). As I said in the original thread, whenever we start wafting above the top of the black channel, the price becomes sensitive to any old reason to crash back down into the channel. If we correct below the bottom of the channel it will be time to worry.